Property hunters look for home offices, bike storage & garden space
- 5th June 2020
- Buying Property News
Renters and buyers' priorities shift following lockdown
As life slowly returns to normal, demand across all areas of the property market is significantly increasing. However, coronavirus and lockdown measures have changed the way that many house viewers are looking at properties. This video demonstrates some of the features that have become increasingly sought-after.
Spare bedrooms that could be used as a home office space have become a prime feature. With many people likely to be working from home more regularly even after lockdown eases, having space for a home office has now become a priority for professionals.
With many workers keen to avoid public transport when they are first able to return to the office, properties that have storage space for bikes will be in increased demand. A 30-40 minute walk to work also may become part of the ‘new normal’.
Other features, such as access to outdoor space - a communal or private garden, or a flat or apartment that comes with a balcony - are also now much higher up many potential buyers’ list of demands.
Ludlowthompson’s data shows letting applications over the weekend of 30th-31st May were at a three-month high, following a drop during lockdown. Demand has now risen above pre-lockdown levels – with figures 172% higher than at the end of February. The number of sales applications also saw a significant rise in 30th-31st May –148% higher than at the beginning of the month.
Stephen Ludlow, Chairman at ludlowthompson says: “Lockdown has changed priorities for renters and buyers, with some key features of properties now appearing more sought after than ever before – notably potential “work from home” office space, bike storage and good access to outside space.”
“It is hoped that demand in all areas will now continue to increase throughout the summer – with the coronavirus not having as severe an impact on the property market as initially first feared.”
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Lockdown has changed priorities for renters and buyers, with some key features of properties now appearing more sought after than ever before – notably potential “work from home” office space, bike storage and good access to outside space
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